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CALLAHAN v. HOLSMAN

Gen. No. 46,031.

351 Ill. App. 1 (1953)

113 N.E.2d 483

P.J. Callahan et al., Appellees, v. Henry K. Holsman et al., Defendants. On Appeal of Samuel L. Rosenblatt and Joseph G. Engert, Appellants.

Appellate Court of Illinois.

Rehearing denied June 2, 1953.

Released for publication August 4, 1953.

Attorney(s) appearing for the Case

CHARLES F. GRIMES, J. HAROLD YOUNG, SAMUEL FUMEL, and BERMAN & HORNICK, all of Chicago, for appellants.

DAVID F. MATCHETT, JR., of Chicago, for appellees.

MR. JUSTICE SCHWARTZ delivered the opinion of the court.

The complaint in this case charged that certain defendants, other than appellants, promoted and created what is called a "Mutual Development Trust"; that they sold beneficial interests therein to plaintiffs and others, and thereafter fraudulently caused to be executed a second mortgage trust deed on the trust property, to secure a note for $80,000 issued to themselves...

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